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Hilton Grand Vacations Announces New Development In Waikiki

Discussion in 'Hilton Grand Vacations Club / HGVC' started by holdaer, Sep 26, 2018.

  1. holdaer

    holdaer TUG Member

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    alwysonvac likes this.
  2. SmithOp

    SmithOp TUG Member

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    Not surprised, its no secret that the Waikiki properties have a high occupancy rate and make HGVC a ton of money. This one will be a Hilton Club property. Fits with the brand vision, probably be very successful.


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  3. jestme

    jestme Guest

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    If it is to be a "Hilton Club", I don't care at all. Totally different rules, point structure, etc. It's just another 'high point value' club whose owners will exchange those points for standard HGVC properties and take inventory from people who are HGVC only, and are treated like second class citizens when it comes to "exchanges" into Hilton Club properties.
     
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  4. CalGalTraveler

    CalGalTraveler TUG Member

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    IMO...compared to HHV the location is good but not great. Near the Hyatt and Moana Surfrider but 2 blocks away from the beach. At first, I thought this would cater to Asian and Australian buyers who visit Honolulu to shop. One Aussie told me that it was cheaper to fly to Hawaii than across Australia and that Australian brands are cheaper in Honolulu than in Australia.

    But given the distance, bHC doesn't make much sense because those clubs are best designed for short stays on short notice. Unless they intend to use bHC as a way to devalue the system for HGVC buyers who will find it difficult to secure reasonable airfare in 44 day window with leftover inventory. If it is designed for business travelers to Honolulu, I would expect a downtown location. Head scratch. :ponder:
     
  5. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    It’s basically adjacent to the rebuilt International Marketplace, so is in the heart of Waikiki. Should be a great location for them.

    Dave
     
  6. Panina

    Panina TUG Review Crew: Expert TUG Member

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    I would think HGVC needs to be careful but I guess they looked into all legal ramifications already. Whereas they have a right to have Hilton Club as they do, allowing them to take regular members inventory without reciprocal inventory in the same timeline is a fine line they are walking.
     
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  7. JohnPaul

    JohnPaul TUG Review Crew: Expert TUG Member

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    As an owner only of "By Hilton Club" points, it would be rare to use them for non "By Hilton Club" resorts because of the cost of buying the points and the related MF. If I wanted to use non BHC resorts it would make more sense to buy non BHC points.
     
  8. buzglyd

    buzglyd TUG Member

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    I will bet this will be mainly marketed to the Japanese. The traditional Japanese don't sun tan on the beach. You notice when you're here they wear long sleeves and the women wear face coverings to assure the porcelain look. I see some of them with the hoodie pulled so tight around their face they look like the kid in Southpark.
     
  9. holdaer

    holdaer TUG Member

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    I seriously doubt this will become a by Hilton Club property. More than likely a point structure and booking window similar to Grand Islander.
     
  10. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    You may want to read the Press Release...
    Mark Wang, President and CEO, Hilton Grand Vacations: "We’re also excited that this project will be the first Hawaii location for our Hilton Club, which offers premium levels of design and amenities.”

    Too bad that they're not putting similar efforts into developing a Maui property.

    .
     
  11. holdaer

    holdaer TUG Member

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    Good grief! You're right, I missed that line in the press release. Wow! A bHC in Honolulu with a 44 day club reservation window. Oh well, good for those living in Honolulu or those with a short flight.
     
  12. dayooper

    dayooper TUG Member

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    Eh, it makes sense from their perspective. They invented another division where there aren't as many owners, the points (and cost to purchase) are sky high so they sell you more per unit and booking rules favor you so you can pretty much get what you want . . . for now. Many owners have all the points they need and won't purchase more. With that in mind, what does HGVC do? create a new way to get those owners to purchase more points. The trade in "option" for bHC points and ownership is pure genius, in my mind. Trade in your "old" ownership for something nice and new and shiny. Had problems booking places before? You won't with bHC's reservation schedule. From a marketing standpoint, it's brilliant.

    They know Oahu is hard to book in peak season so they can sell this place with the premise that you get better a chance at your desired week. This place isn't meant for the regular HGVC owners to book (although I'm sure the TUG community with find ways to book it). It's meant for the bHC owners to be able to use their booking advantage to get the place they want. Personally, I don't mind them building this resort. More people will trade in their HGVC ownerships and purchase bHC ownership and, hopefully, leave more openings for me in the regular HGVC.
     
  13. dayooper

    dayooper TUG Member

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    I think you may be right. People from the Western Pacific don't have a bHC that's useful for them. Japan, Korea, China, Australia, HGVC probably wants to open up the new bHC to that area. Now they can sell them on this resort.
     
  14. dayooper

    dayooper TUG Member

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    I think as long as they continue building regular HGVC resorts and keeping the bHC more hotel like and not resorts, I think they will be fine.

    As a member of Tug, you know this. Does the average owner? Much like the sales weasels sell the conversion to Hilton Honors points, I'm sure they sell them on the differences in the reservation windows.
     
    Last edited: Sep 26, 2018
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  15. brp

    brp TUG Member

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    Certainly not a location of interest to us, but a bunch of people seem to like it.

    Still Jonesin' for Maui :)

    Cheers.
     
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  16. frank808

    frank808 TUG Member

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    Good news for me. One more place that i can use our points for staycations. I figure at 44 days out there will be some good inventory like i have been seeing for washington dc.

    Sent from my SM-T217S using Tapatalk
     
  17. brp

    brp TUG Member

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    However in (admitted infrequent) checking, I'm not seeing this same trend at the NYC locations. A little inventory, but not much.

    Cheers.
     
  18. alwysonvac

    alwysonvac TUG Lifetime Member

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    Thanks for sharing :thumbup:

    From the article
    Hilton Grand Vacations Inc. has purchased a site in the center of Waikiki where it plans to develop a 32-story, 191-unit time-share tower from where a partnership of Hawaii investors and developers who scrapped plans for their own tower nearly two years ago.

    It will be the sixth property in Honolulu for Hilton Grand Vacations (NYSE: HGV), which completed The Grand Islander by Hilton Grand Vacations at the Hilton Hawaiian Village Waikiki Beach Resort in March 2017. The purchase price was not disclosed.

    BSC KVSC LLC, the partnership between BlackSand Capital, The MacNaughton Group, Kobayashi Group and others, had planned to build a 32-story, 246-unit condominium hotel on the 1.05-acre King’s Village site, which also includes the Hale Waikiki Apartments and Price Edward Apartments, but said in early 2017 that they were placing the project on hold because of rising construction costs. The four parcels of land, which they bought for about $41 million in 2012, are located directly behind the Hyatt Regency Waikiki Beach Resort & Spa on a block bounded by Kaiulani and Kona avenues and Prince Edward Street....

    ....Construction on the project is expected to begin in the second quarter of 2019, with a completion date targeted for the first quarter of 2022. Sales are expected to start in mid-2020.


    From Google Maps...

    The new location is directly behind the two twin towers (Hyatt Regency Waikiki Beach Resort & Spa )

    14301344-1226-4E13-A00E-B6A028F065E2.png

    Hilton Hawaiian Village at the top to the new location at the bottom.


    7FCDB07D-0E2C-4F8B-8420-CCFBECB92D7D.png

    End of the main strip (Kalakaua Ave) at the top

    815EA9EB-371F-4569-BBBD-ED319563091B.png

    E66D1202-1F7C-408A-9872-2F8710275E97.png
     
  19. 1Kflyerguy

    1Kflyerguy TUG Review Crew: Rookie TUG Member

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    This looks like a pretty good location for "urban resort" in Hawaii.. I could possibly see myself staying here as one stop on a longer Hawaii trip.

    I am not sure i would buy here, but there are starting to be enough bHC locations that i will take a better look at benefits you get if you own at one of these.
     
  20. frank808

    frank808 TUG Member

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    Front page article about HGV buying the kings village site.[​IMG][​IMG]

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  21. alwysonvac

    alwysonvac TUG Lifetime Member

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  22. PigsDad

    PigsDad TUG Member

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    Hilton Grand Vacations Inc. announced today that it has purchased a 1.05-acre site that currently includes King’s Village in Waikiki from BSC KVSC, LLC (“BSC”), with plans to develop a 32-story tower.

    BSC KVSC, LLC is a partnership that includes BlackSand Capital, a real estate private equity firm focused solely on Hawaii real estate, The MacNaughton Group, Kobayashi Group and others. The purchased site also includes the Hale Waikiki Hotel and Prince Edward Apartments.

    “Building on our local development history that started with the Lagoon Tower in 2000, our latest project in Waikiki will assure that HGV continues to offer lifetime vacation experiences to our next generation of owners,” says Mark Wang, president and CEO, Hilton Grand Vacations, in a news release. “We’re also excited that this project will be the first Hawaii location for our Hilton Club, which offers premium levels of design and amenities.”

    Hilton Grand Vacations said the 32-story tower would be its sixth property in Honolulu, and that the purchase is part of its continued efforts to expand its portfolio on Oahu, which would bring its total count of timeshare units to 1,429. In March 2017, HGV opened The Grand Islander by Hilton Grand Vacations Club in Waikiki.

    Construction for the tower is anticipated to begin in the second quarter of 2019, with completion in the first quarter of 2022. Sales of units are expected to begin in the middle of 2020.

    The tower is expected to offer 191 units, including studios, one-, two- and three-bedroom suites, many of which will offer ocean views, and amenities including a fitness center, pool and owners’ lounge.

    “We are glad to see the project moving forward under the current approvals, as we believe it will be good for the neighborhood, the Waikiki area and our local economy,” says Bryan Li of BSC KVSC, LLC in a statement. “Hilton Grand Vacations has a strong track record of operating exceptional properties in Hawaii, and we wish them continued success.”
     
  23. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

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    The next announcement will be the Big Island. Why don't they build in some new areas, and what is going on with Maui?
     
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  24. alwysonvac

    alwysonvac TUG Lifetime Member

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    Yes, I totally agree with this. They will market to both new potential customers and existing members.

    It will appeal to those who go to Oahu on a regular basis and don’t want to be limited with a three month or six month home resort booking window. It’s for vacationers who don’t spend most of their stay at the beach and/or pools and want to have an extended priority booking window. But I’m sure it will come at a hefty developer price :cool:
     
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  25. alwysonvac

    alwysonvac TUG Lifetime Member

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    Thanks, I was actually referring to the original Star advertiser image that Frank posted.
     

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